Point72 Hong Kong Ltd Acquires Shares of 3,997 Tyler Technologies, Inc. (NYSE:TYL)

Point72 Hong Kong Ltd acquired a new position in shares of Tyler Technologies, Inc. (NYSE:TYL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,997 shares of the technology company’s stock, valued at approximately $2,333,000.

Several other hedge funds also recently made changes to their positions in the company. Tidal Investments LLC raised its holdings in Tyler Technologies by 64.8% during the first quarter. Tidal Investments LLC now owns 2,953 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 1,161 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Tyler Technologies by 18.3% during the 2nd quarter. SG Americas Securities LLC now owns 8,117 shares of the technology company’s stock worth $4,081,000 after buying an additional 1,255 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Tyler Technologies in the 3rd quarter valued at approximately $1,309,000. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Tyler Technologies by 21.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 123,253 shares of the technology company’s stock valued at $61,969,000 after buying an additional 21,818 shares in the last quarter. Finally, Swedbank AB acquired a new position in Tyler Technologies during the second quarter worth $251,390,000. Institutional investors and hedge funds own 93.30% of the company’s stock.

Insiders Place Their Bets

In other Tyler Technologies news, insider John S. Marr, Jr. sold 12,000 shares of Tyler Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $613.66, for a total value of $7,363,920.00. Following the completion of the sale, the insider now owns 6,983 shares in the company, valued at $4,285,187.78. The trade was a 63.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO H Lynn Moore, Jr. sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $576.62, for a total transaction of $2,883,100.00. Following the transaction, the chief executive officer now directly owns 75,000 shares of the company’s stock, valued at approximately $43,246,500. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,100 shares of company stock valued at $22,309,090. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TYL shares. StockNews.com raised Tyler Technologies from a “hold” rating to a “buy” rating in a report on Thursday. DA Davidson raised their price objective on shares of Tyler Technologies from $525.00 to $550.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective on shares of Tyler Technologies from $625.00 to $700.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $627.00 target price on shares of Tyler Technologies in a report on Friday, September 13th. Finally, Piper Sandler lifted their price target on shares of Tyler Technologies from $625.00 to $701.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $642.62.

Tyler Technologies Stock Down 0.2 %

Shares of NYSE:TYL opened at $629.17 on Monday. The company has a market capitalization of $26.93 billion, a P/E ratio of 114.81, a P/E/G ratio of 5.70 and a beta of 0.77. The stock’s fifty day simple moving average is $600.16 and its 200-day simple moving average is $557.28. Tyler Technologies, Inc. has a 52-week low of $397.80 and a 52-week high of $637.53. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.18.

Tyler Technologies (NYSE:TYL) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.09. The company had revenue of $543.34 million for the quarter, compared to analysts’ expectations of $547.34 million. Tyler Technologies had a net margin of 11.39% and a return on equity of 9.79%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $1.66 EPS. As a group, equities research analysts forecast that Tyler Technologies, Inc. will post 7.36 earnings per share for the current fiscal year.

About Tyler Technologies

Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.